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    Poshmark Series A Deck

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    Jordan Crook
    GoshPosh is a proposed mobile marketplace that allows users to easily buy and sell used fashion items. It aims to address pain points in current marketplaces by making the listing and browsing processes simple and engaging through mobile photos and social discovery. The founders see opportunities in the large and growing used fashion and boutique markets. Key aspects of the business model include free listings, 20% transaction fees, and fulfillment services to facilitate easy buying and selling. Initial goals are to seed the marketplace and achieve critical usage and transaction milestones to enable growth.

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    Poshmark Series A Deck

    Uploaded by

    Jordan Crook
    2K views16 pages
    GoshPosh is a proposed mobile marketplace that allows users to easily buy and sell used fashion items. It aims to address pain points in current marketplaces by making the listing and browsing processes simple and engaging through mobile photos and social discovery. The founders see opportunities in the large and growing used fashion and boutique markets. Key aspects of the business model include free listings, 20% transaction fees, and fulfillment services to facilitate easy buying and selling. Initial goals are to seed the marketplace and achieve critical usage and transaction milestones to enable growth.

    Original Description:

    Navin Chaddha of Mayfield led the Series A round.

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    GoshPosh is a proposed mobile marketplace that allows users to easily buy and sell used fashion items. It aims to address pain points in current marketplaces by making the listing and browsing processes simple and engaging through mobile photos and social discovery. The founders see opportunities in the large and growing used fashion and boutique markets. Key aspects of the business model include free listings, 20% transaction fees, and fulfillment services to facilitate easy buying and selling. Initial goals are to seed the marketplace and achieve critical usage and transaction milestones to enable growth.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    2K views16 pages

    Poshmark Series A Deck

    Uploaded by

    Jordan Crook
    GoshPosh is a proposed mobile marketplace that allows users to easily buy and sell used fashion items. It aims to address pain points in current marketplaces by making the listing and browsing processes simple and engaging through mobile photos and social discovery. The founders see opportunities in the large and growing used fashion and boutique markets. Key aspects of the business model include free listings, 20% transaction fees, and fulfillment services to facilitate easy buying and selling. Initial goals are to seed the marketplace and achieve critical usage and transaction milestones to enable growth.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 16

    GoshPosh

    A simple discovery-based marketplace where anyone can buy and sell fashion
    merchandise using their mobile phones

    Overview for Mayfield Fund


    Jan 2011
    Unmet Market Needs: Massive Opportunity for New
    Marketplace
    BASIC NEED PAIN POINT

    Women have unwanted items


    in their closet that they would Current marketplaces are
    love to sell. hard to SELL from:
    SELLER

    Boutique stores need an online


    the listing process is time
    outlet to sell a portion of their consuming and daunting
    inventory

    Women need a fashion Current marketplaces are


    destination where they can hard to BUY from:
    discover and purchase
    BUYER

    they are built on search


    new fashion ideas, style while fashion is more suited
    tips, and products. for a discovery buying
    process
    2
    GoshPosh: A Simple Marketplace for Fashion

    1. The listing process is simple and engaging:

    Users list items using mobile smartphone (iPhone) and


    convert the photo into a fashion quality image

    2. The discovery and browsing process is simple and engaging:

    Users discover products through people

    3. The buying and selling process is simple:

    GoshPosh acts as an intermediary for all transactions

    3
    Sellers Create Engaging, Fashion Magazine Quality
    Images on their Mobile Smartphones

    4
    Buyers Discover Products Through People

    5
    Market Opportunity and Size
    US Apparel Market Highlights

    2010 Market Size 2010 growth 2015 growth


    (projected)

    eBay Market $2B 7% 6%

    Online Market $27B* 17%* 10%

    Overall US Apparel
    Market
    $200B 3% 2%

    * 2009 market size, 2009 growth rate

    6
    Market Opportunity and Size
    Fashion Resale and Boutique Market Highlights

    10M buyers purchased $2B worth of fashion merchandise on eBay in 2010

    13 pieces of clothing, pairs of shoes and accessories are sold every minute through
    eBay’s mobile apps worldwide

    Currently there are 2M listings for used fashion merchandise on eBay

    Plato’s Closet, the largest teen resale retailer in US has 300 stores representing over
    1M square feet of retail selling space

    There are currently 80,000 independent boutiques in the US generating $80 billion
    gross revenue

    7
    Market Opportunity and Size
    Customer Feedback

    “I would love to trim my closet & have an easy way to sell the items.”
    - User Experience Designer, LA

    “Great great idea! I have always wanted something like that! You know
    that I will for sure use something like that.”
    - Fashion Designer, NYC

    “Yes! Every time I post something on eBay it takes forever to do it and


    then nothing happens which makes me feel like I’m wasting my time. I’ve
    lost faith in the whole eBay thing. I’d totally be up for something easier.”
    -Executive Assistant & Mom, Fairfield CT

    “So, with GoshPosh, could I finally figure out where you bought that
    leather jacket so I can get one too?”
    - HR Professional, Cleveland OH

    8
    Seeding the Marketplace Involves Identifying
    Key Sellers with Influence and/or Inventory

    Buyers Sellers Merchandise

    POWER SELLERS

    INDEPENDENT BOUTIQUES

    FASHION BLOGGERS

    9
    Creating a Virtuous Cycle of Marketplace Growth

    RECRUIT SEED USERS


    Organic, Direct,
    Partner Marketing
    ENGAGE USERS
    RECRUIT NEW USERS Recommend users to
    follow, show new
    product

    CREATE LISTINGS
    SHARE LISTINGS

    10
    Key Milestones by Quarter 2011-2012

    Q4 2011
    Q3 2011 User Acquisition Ramp
    Validate Transaction Model
    Q2 2011 iPhone App Beta Validate Usage Model
    Seeding of users begins Iterate on the Product
    User Validation Early market and user
    Q1 2011 Pre-Testing of App Testing Q1 2012
    Pre-launch Prep Ramp Marketing
    Financing Complete
    Operations Set-Up Hire Operations Head
    Core Team Formed
    App Development Hit Critical Usage & Trans.
    Started Milestones

    Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012

    11
    GoshPosh Acts As Intermediary for All
    Transactions
    Seller Potential Revenue
    Pain Points Stream

    Provide
    Levels of Shipping
    Provide Fulfillment & Centralize
    Intermediation Provide Label
    Packaging Shipping Shipping Costs
    (Examples)
    Services

    1. Chegg,
    Consignment ✔ ✔ ✔ ✔
    2. ThredUp, Glyde ✔ ✔ - ✔
    3. StubHub ✔ - - ✔
    4. eBay, Craigslist - - - -
    GoshPosh will serve as an intermediary for financial transactions, customer service,
    and dispute resolution 12
    GoshPosh Business Model Highlights

    1. No Listing Fees
    2. 20% Transaction Fees
    3. $9.95 Shipping Fees (covers shipping, packaging and part
    of return shipping)

    $20M-$30M in
    $100M of Gross
    GoshPosh Gross
    Merchandise Value
    Revenue

    13
    Technology behind GoshPosh

    iPhone Andriod 3rd Party


    Web Browser App Apps
    App

    Internet
    (Amazon CloudFront)

    Web Mobile API Public API


    PHP

    CMS

    Amazon Web Services


    Application (HTTP/JSON) (HTTP/JSON)

    Platform API
    (HTTP/JSON)
    Java

    Feed Commerce User Image


    Sub-system Sub-system Sub-system Sub-system

    Future
    14
    GoshPosh at Scale: 2-3M xacting users leads to a
    $1B GMV Business
    Increase spend to $300-500/year

    Occasional Buyers (65%) Casual Buyers (30%) Power Buyers (5%)


    2 items/ year 5 items/ year 8 items/ year

    With 2-3M xacting users, GoshPosh has the


    potential to achieve a $1B GMV

    Power Sellers Casual Sellers Boutiques


    (existing) (grow to 15-20%) (grow to 1-2%)

    Expand seller market


    15
    GoshPosh Summary

    • Innovative product: leveraging the growth of online e-


    commerce and smart phones with high resolution cameras

    • Well rounded team: unique combination of business,


    technology and domain expertise

    • Large and growing market: going after an exploding


    segment (mobile) of an already proven marketplace (apparel)

    16

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